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Home Loan Interest Rates

Greater Bank’s Home Loans are designed to help you achieve the financial dream of owning your home sooner. We offer great value, our loans are easy to use, and we’re confident we’ve got the right loan to suit your needs.

Check out Greater Bank's range of Owner Occupied Home Loan Interest Rates and see how we measure up.

Rates are featured for our Ultimate Home Loan, Great Rate Home Loan and Line of Credit Home Loan.

 

All Home Loans have a base rate. The applicable base rate will depend on whether you select a standard or discounted home loan and also the repayment type you select – Principal and Interest (P&I) or Interest Only (IO).

For P&I loans, margins may apply to the applicable base rates. For new IO loans, currently a 0.10% p.a. margin above the applicable base rates will apply. The base rates are set out below and the all up interest rate which includes any margins, will be set out in your credit contract.

Ultimate Home Loan

Rates are effective as at 9am Tuesday 28/06/2022

Ultimate Home Loan - Discount variable rate

Ultimate discount variable Interest Rate# Comparison Rate^
Variable 2.99% p.a. 3.42% p.a.
Rates are effective as at 9am Tuesday 28/06/2022

Ultimate Home Loan - Variable rate

Ultimate Home Loan Interest rate Comparison rate^
Variable 4.21% p.a. 4.61% p.a.
Rates are effective as at 9am Tuesday 28/06/2022

Ultimate Home Loan - Fixed rates

Ultimate Home Loan Interest rate~ Comparison rate^
1 Year Fixed 4.69% p.a. 4.66% p.a.
2 Years Fixed 5.19% p.a. 4.79% p.a.
3 Years Fixed 5.49% p.a. 4.95% p.a.
4 Years Fixed 5.69% p.a. 5.12% p.a.
5 Years Fixed 5.89% p.a. 5.32% p.a.

All Home Loans have a base rate. The applicable base rate will depend on whether you select a standard or discounted home loan and also the repayment type you select – Principal and Interest (P&I) or Interest Only (IO).

For P&I loans, margins may apply to the applicable base rates. For new IO loans, currently a 0.10% p.a. margin above the applicable base rates will apply. The base rates are set out below and the all up interest rate which includes any margins, will be set out in your credit contract.

Great Rate Home Loan

Rates are effective as at 9am Tuesday 28/06/2022

Great Rate Home Loan - Discount variable rate

Great Rate discount variable Interest Rate Comparison Rate
Variable 2.79% p.a. 2.80% p.a.
Rates are effective as at 9am Tuesday 28/06/2022

Great Rate Home Loan - Variable rate

Great Rate Home Loan Interest rate Comparison rate^
Variable 4.41% p.a. 4.42% p.a.
Rates are effective as at 9am Tuesday 28/06/2022

Great Rate Home Loan - Fixed rates

Great Rate Home Loan Interest rate~ Comparison rate^
1 Year Fixed 4.69% p.a. 4.45% p.a.
2 Years Fixed 5.19% p.a. 4.57% p.a.
3 Years Fixed 5.49% p.a. 4.71% p.a.
4 Years Fixed 5.69% p.a. 4.87% p.a.
5 Years Fixed 5.89% p.a. 5.05% p.a.

All Line of Credit Home Loans have a base rate. The applicable base rate will depend on whether you select a standard or discounted Line of Credit Home Loan. Currently a 0.10% margin above the applicable base rate applies for all new Line of Credit facilities. The base rates are set out below and the all up interest rate which includes any margins, will be set out in your credit contract.

Line of Credit

Rates are effective as at 9am Tuesday 28/06/2022

Line of Credit Interest rates

Line of Credit Interest rate
Variable 5.35% p.a.
Rates are effective as at 9am Tuesday 28/06/2022

Ultimate Line of Credit Interest rates

Ultimate Line of Credit Interest rate
Variable 4.65% p.a.

Find out more about our Home Loans

Ultimate Home Loan

Interest Rate 2.99 %# p.a.
Comparison rate 3.42 %^ p.a.
~Discount variable rate, owner occupied, principal and interest
Our ultimate in loans. Our Ultimate Home Loan offers the flexibility of fixed or variable rate, or a mixture of both. What's more, it features a linked offset account and free redraw available around the clock via online banking.

Great Rate Home Loan

Interest rate 2.79 %# p.a.
Comparison rate 2.80 %^ p.a.
~Discount variable rate, owner occupied, principal and interest
Our simple, low rate loan that’s perfect if you’re after great value and no ongoing fees. Our Great Rate home loan lives up to its name and offers flexible repayment and loan term options.

Line of Credit

Interest rate 5.35 % p.a.
Line of Credit home loan base rate
Our Line of Credit helps you make the most of the equity in your home. Great if you’re thinking about renovating, investing, or just want more flexibility.

Calculate your borrowing power

Your questions answered

No one loan is perfect for everyone.

At Greater Bank, we understand that every one of our valued customers have different needs and are at different stages in their lives.

The right loan for you depends on these needs.

A variable rate loan means that the interest rate on the loan may go up and down over the loan period. This allows you to make additional or early repayments to take advantage of interest rate fluctuations.

A fixed rate loan means that the interest on the loan remains constant over a fixed period, so your repayments will stay the same. You will be able to budget for your repayments and are protected from rises in interest rates.

Still have questions? Contact a friendly Greater Bank staff member on 13 13 86 or visit your nearest branch.

It is the amount of money you intend to borrow, compared to the value of the property (not necessarily the selling price) you're looking to buy.

We use the LVR when assessing your home loan application. It’s also helps determine if you need to pay Lenders Mortgage Insurance (LMI).

For example:

 

Amount you intend to borrow Value of purchase property Therefroe what the LVR is
$400,000 $500,000 80%

This is basically a means of comparing one loan to another from any provider in Australia.

It includes all interest and known fees payable over the whole life of the loan and expresses that amount as an annual rate.

This allows you to compare loans with different fee amounts, frequencies and timings as well as the base interest rate quoted.

It is designed so that you can compare all the costs of the loan rather than just the interest rate.

Variable interest rates

A variable interest rate is a rate that fluctuates according to market conditions. Sometimes known as a floating interest rate.

So, this means that the variable interest rate that you are paying today may be different in 6 or 12 months time.

Fixed interest rates

A fixed interest rate is a rate that is not subject to market condition fluctuations, but only for a set period of time. When you choose a fixed rate, your rate will not change for the fixed period. 

A fixed interest rate can give some assurance when it comes to knowing what your loan repayments will be over the set term, but it also may come with the disadvantage that if variable rates drop, your fixed rate and repayments will stay the same for the set term.

Check out Greater Bank's full range of current fixed and variable home loan interest rates below.

Compare current Home Loan interest rates

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Speak to our contact centre
Monday to Friday 8:00am – 6:00pm AEST.
Saturday 8:00am to 1:00pm AEST

Call 13 13 86

Owner Occupied Rates: Existing customers wanting information about our Getaways/Standard Variable home loan fixed interest rates, please call 1300 721 253.

~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.

*Fees, charges, terms and conditions apply to all loans. Comparison Rate Schedules are available at your local branch. Conditions apply. Please read our Terms and Conditions for more information.

^ Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

# Discounted rates include a discount on Home Loans of $150,000 or over and for owner occupied Home Loans with an LVR 90% or below and for investment Home Loan with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities. All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rates. All-new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rates. The all-up interest rate which includes any margins, will be set out in your credit contract. If your security property is not in NSW, QLD or ACT we are unable to assist you with your enquiry. New borrowers are required to attend a Greater Bank Branch for an interview. View our Home Loan Key Fact Sheet.